When store employees don’t know how to identify counterfeit bills, all too often they rely on the counterfeit detection pen.
Counterfeit detection pens are commonly used to detect counterfeit banknotes, but fall short of being completely reliable. Authentic currency is printed on paper based on cotton fibers and does not contain the starches that are reactive with iodine. When the pen is used to mark genuine bills, the mark is yellowish or colorless. If, however, the bill is counterfeit and printed on regular paper, the pen will detect the starch and its mark will turn black.
However, even with the use of counterfeit detection pens, many fake bills are accepted in cash registers and cause financial losses that are not easily recouped. It can happen to any business, especially retail businesses. And, even when you report it based on the laws, there’s no guarantee the government will replace it.
Insurance is the only way to recover losses. Without an insurance policy to cover the receipt of counterfeit money, your business suffers the loss. And while insurance is important and certainly smart to have, the advantages of an AMSEC CashWizard Smart Safe are definitely better.
With our technologically advanced CashWizard Smart Safe you’re getting the advantages of the MEI SC Advance bill reader. The advanced recognition system with transmissive sensors sees all the way through each note contributing to a higher overall acceptance rate for legal notes while increasing security against fraud.
The sensor uses a full spectral analysis with multiple wavelengths of light to look completely through each note and validate its authenticity. And even if the notes have been worn or damaged, these advanced recognition algorithms facilitate the industry’s highest acceptance rate.
The United States treasury estimates about $70 million in counterfeit money
is in circulation, or approximately 1 note in counterfeits for every 10,000 in genuine currency. That’s a lot of funny money circulating and you don’t want it to end up in your till.
By installing the CashWizard Smart Safe at the point of sale, cashiers can validate bank notes while completing the sales transaction. The CashWizard Smart Safe technology is proven to protect against losses from counterfeit banknotes. By stepping up to the next level of security for your business, you are getting a head start in preventing losses that can easily be avoided.
Contact one of our expert technicians to find out how AMSEC CashWizard Smart Safe can relieve you of the frustration of those unreliable counterfeit detection pens.